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ETF Specialist

Bond ETF Assets Pass $1 Trillion in October

This has been a seminal year for fixed-income ETFs.

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Global stock markets slid for the second month in a row in October. The Morningstar Global Markets Index--a broad gauge of global stock markets--fell 2.19% during the month. Meanwhile, the Morningstar U.S. Core Bond Index--a barometer of U.S. fixed-income markets--ticked down 0.42%, as long-term Treasury yields climbed. This marks back-to-back months of losses for both indexes. Over the past 20 years, these two indexes have both posted negative monthly returns just 12.5% of the time. This marks the fifth time they’ve strung together two consecutive losing months in the past two decades.

Here, I will take a closer look at how the major asset classes performed last month, where investors were putting their money, and which segments of the market look cheap and dear--all through the lens of exchange-traded funds.

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Ben Johnson does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.